Shopify Inc. (NYSE:SHOP) (TSE:SHOP) – Stock analysts at Jefferies Financial Group raised their Q2 2021 earnings per share estimates for shares of Shopify in a research report issued on Monday, January 11th. Jefferies Financial Group analyst S. Samana now forecasts that the software maker will earn $0.14 per share for the quarter, up from their prior estimate of $0.12. Jefferies Financial Group currently has a “Buy” rating and a $1,250.00 target price on the stock. Jefferies Financial Group also issued estimates for Shopify’s Q3 2021 earnings at $0.26 EPS.
Other research analysts have also issued research reports about the company. Wedbush raised Shopify from a “neutral” rating to an “outperform” rating and upped their price target for the company from $998.00 to $1,300.00 in a research report on Wednesday, September 30th. ValuEngine downgraded Shopify from a “buy” rating to a “hold” rating in a report on Tuesday, December 1st. KeyCorp lifted their price target on shares of Shopify from $1,250.00 to $1,300.00 and gave the company an “overweight” rating in a report on Monday. BidaskClub lowered shares of Shopify from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 6th. Finally, 140166 started coverage on shares of Shopify in a research report on Wednesday, December 2nd. They issued a “neutral” rating and a $950.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $1,058.93.
Shopify stock opened at $1,188.24 on Wednesday. The firm has a market cap of $144.86 billion, a P/E ratio of -1,947.90, a P/E/G ratio of 96.18 and a beta of 1.48. Shopify has a 1-year low of $305.30 and a 1-year high of $1,285.19. The firm has a 50-day moving average of $1,119.79 and a 200-day moving average of $1,027.08. Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Thursday, October 29th. The software maker reported $1.13 EPS for the quarter, topping the consensus estimate of ($0.08) by $1.21. Shopify had a negative net margin of 3.25% and a positive return on equity of 0.32%. The company had revenue of $767.40 million for the quarter, compared to the consensus estimate of $652.60 million. During the same period in the previous year, the firm earned ($0.29) earnings per share. The firm’s revenue for the quarter was up 96.5% on a year-over-year basis.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pacifica Partners Inc. bought a new position in Shopify in the 3rd quarter valued at approximately $26,000. Rockbridge Investment Management LCC bought a new position in shares of Shopify during the second quarter valued at $34,000. Moser Wealth Advisors LLC purchased a new stake in shares of Shopify during the third quarter valued at $37,000. Arkadios Wealth Advisors increased its holdings in Shopify by 117.6% in the 3rd quarter. Arkadios Wealth Advisors now owns 37 shares of the software maker’s stock worth $39,000 after buying an additional 20 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in Shopify by 57.1% in the 3rd quarter. First Horizon Advisors Inc. now owns 55 shares of the software maker’s stock worth $56,000 after buying an additional 20 shares during the last quarter. 59.45% of the stock is owned by institutional investors.
Shopify Inc, a commerce company, provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, build customer relationships, source products, leverage analytics and reporting, and access financing.
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